Question

In: Statistics and Probability

Use at least 50000 simulations to answer the following questions. In the game of craps, the...

Use at least 50000 simulations to answer the following questions.

In the game of craps, the shooter rolls two dice and wins if the sum of the dice is 7 or 11 ("natural"); he loses if the sum is 2,3, or 12 (craps). If the sum is 4, 5, 6, 8, 9, or 10, then the result is not yet decided. He must roll the dice again and again, as often as is necessary until the initial sum, be it 4, 5,6,8,9, or 10 is repeated (shooter wins) or until the sum is 7 (shooter loses). Find the probability that the shooter will win in a game of craps by simulation.

Solutions

Expert Solution

This is the simulation result using python.


Related Solutions

Use python simulations to answer the following questions. You should be able to make minor modifications...
Use python simulations to answer the following questions. You should be able to make minor modifications to previous simulations to estimate these probabilities: 1) Suppose the pocket contains one fair coin and one two-headed coin. Find the approximate probability that the coin is fair given that it came up heads on the first flip. 2) Suppose the pocket contains one fair coin and one two-headed coin. Find the approximate probability that the coin is fair given that it came up...
For this assignment, write a program that uses functions to simulate a game of Craps. Craps...
For this assignment, write a program that uses functions to simulate a game of Craps. Craps is a game of chance where a player (the shooter) will roll 2 six-sided dice. The sum of the dice will determine whether the player (and anyone that has placed a bet) wins immediately, loses immediately, or if the game continues. If the sum of the first roll of the dice (known as the come-out roll) is equal to 7 or 11, the player...
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2...
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2 Strategy X Y Player 1 A 5, 5 0, -200 B -200, 0 20, 20 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: You may select more than one answer. Click the box with a check mark for the correct answers and click twice to empty the box for the wrong answers....
Use the following game to answer questions 8-10. Be sure to show all of your math...
Use the following game to answer questions 8-10. Be sure to show all of your math step-by-step. Alcoa and Kaiser, duopolists in the market for primary aluminum ingot, choose prices of their 500 foot rolls of sheet aluminum on the first day of the month. The following payoff table shows their monthly payoffs resulting from the pricing decisions they can make. Alcoa High price Low price Kaiser High price A $400, $500 B $175, $575 Low price C $525, $200...
Consider the game of craps designed by Econ 261 Hotel students. The game consists of rolling...
Consider the game of craps designed by Econ 261 Hotel students. The game consists of rolling two fair six-sided dice. You win a dollar if the sum of the dots on the two dice is 2, 3, 4, or 5; if the sum of the dots on the two dice is 9, 10, 11, or 12 you lose a dollar. You win nothing, (that is you get $0) if the sum is 6, 7, or 8. The variance of X,...
2) This question is about providing game logic for the game of craps we developed its...
2) This question is about providing game logic for the game of craps we developed its shell in class. THe cpp of the class is attached to this project. At the end of the game, you should ask user if wants to play another game, if so, make it happen. Otherwise quit. Here is the attached cpp file for que2:- /*** This is an implementation of the famous 'Game of Chance' called 'craps'. It is a dice game. A player...
Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions. Player...
Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying questions. Player 2 Strategy C D E F Player 1 A 25,15 4,20 16,14 28,12 B 10,10 5,15 8,6 18,13 a. What is player 1’s optimal strategy? Why? b. Determine player 1’s equilibrium payoff.
Craps is a dice game in which the players make wagers on the outcome of the...
Craps is a dice game in which the players make wagers on the outcome of the roll, or a series of rolls, of a pair of dice. Most outcomes depend on the sum of the up faces of two, fair, six-sided dice. 1) What is the lower class boundary of the "6" class? 2) Find the mean. 3) Find the standard deviation. 4) Find the z-score for snake eyes.
Overview For this assignment, write a program that uses functions to simulate a game of Craps....
Overview For this assignment, write a program that uses functions to simulate a game of Craps. Craps is a game of chance where a player (the shooter) will roll 2 six-sided dice. The sum of the dice will determine whether the player (and anyone that has placed a bet) wins immediately, loses immediately, or if the game continues. If the sum of the first roll of the dice (known as the come-out roll) is equal to 7 or 11, the...
In the game of craps, people bet on the outcome of the throw of two, six-sided...
In the game of craps, people bet on the outcome of the throw of two, six-sided dice. Specifically, wagers are placed on the sum of the outcome on the upward facing number on each of the two dice. We are going to discuss relative likelihoods by counting the number of ways (the number of microstates) associated with specific sums (the macrostate). A. How many microstates are associated with a throw summing to 4? B. How many microstates are associated with...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT